[thetoddgreen]

Hey all! I have used this forum for advice in the past, and now that I am officially starting my journey, I knew I needed to join. I hope you don’t mind my verbosity, but more detail is better, yes?

I made the mistake of waiting to take the CPA instead of doing it in grad school or directly after. I finished my accounting degree in May 2015, and I stopped halfway through my MBA (temporarily) in March of this year. I have submitted my info and it is still in Board-Eval (I meet all the requirements to sit by a longshot) and I am going to be testing in SC. Now onto the issues…

Due to the 2017 changes, I wanted to have 2 tests under my belt before April. So I chose BEC and REG (hopefully that wasn’t too much of a mistake). I received the platinum version of Wiley CPAexcel and started studying for BEC on 12/5. Unfortunately it has taken me some adjusting and I have slacked so I am playing catch up to the study plan that Wiley creates for you. I was thinking of taking BEC the first week of January (the 9th or before), and REG the last week of February or the first week of March (since we have an extended week). I work from 8:30-4:30 Monday-Friday at a holding company as a Junior Staff Accountant (private/industry, not public), so I was thinking to study around 3 hours after work every day, get as much in on Saturday as possible, and take Sundays off. Do you think this is a reasonable schedule and testing time, or am I being too ambitious? I don’t want to set myself up for failure, but I also would really like to get 2 tests done before the changes. Any thoughts or advice on this? I am willing to adjust my study schedule as well.

Secondly, since I started studying for BEC, I have been getting concerned with my study habits. I feel that I am either paying too much attention focusing on all the details (in turn, spending incredibly too much time on each lesson) or that I am just doing enough to where it’s fresh in my brain for the assessments that follow each 30 minute lesson (which I might not retain for the long run). Any tips on finding the balance for the BEC exam so I can be prepared for it when I take it?

Thank you everyone in advance. I will do my part to contribute here too 🙂

[hasy]

You have to do what works for you. One thing for sure throughout this whole process, I've always wished that I was able to finish MORE mcqs. There is NO better practice than keep doing questions after questions. It gets tedious but that's the best way to learn. BEC was the only exam that I didn't finish all the MCQs for and I have to say that's partly why my score is lower than I expected (I'm still grateful but just saying). I copied my notes twice for BEC. By the time I've reached REG, I became more efficient with my note taking. Summarize your notes and don't just read from the book. If you make an effort to understand the topic, you'll be able to internalize it more.

But QUALITY over quantity any day. If you got 15/30 from a session, make sure you comb through every single reason why you got the other 15 wrong and improve. I have total faith that you can complete both of those exams by Q1. But make sure you get BEC out first and have the ENTIRE Q1 to study for REG. Everyone says that FAR is the beast. That is SUCH a lie. REG is the TRUE beast. So hard… so hard… study well.

Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved - Helen Keller

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BEC 80 (10/23/15)
FAR 72 (4/2/15); 83 (7/11/16)
REG 52 (4/28/15)
AUD (9/9/16)

Roger + NINJA MCQ + WTB

[thetoddgreen]

Hasy, Thank you!

I was told by some, that FAR might actually be my best (As for studying etc) because I do better with calculations, as opposed to ambiguous theory… especially when it's all over the place. I have only done Corporate Gov, IC/Risk Mgt, and Micro-econ so far, but it's enough to know this isn't a game. What I have been doing is the following:

Watch the 5-8 minute video (some are short like 3 min, some are 10-12 minutes) while taking some notes, then I scan through the text and make any additional notes I feel are needed. Writing helps me process, but goodness it takes up some time. Then I do proficiency questions which are T/F and flip through a few flashcards and take an assessment which is usually 5 or so questions. Usually get them all right or just miss one but understand why I missed it. The sheer size of these lessons are what concerns me, because it's hard to do bad on these small assessments when there isn't much info in the lesson as is. Each section of a few chapters/area starts with a diagnostic test, which I usually bomb. Then I go through the lessons doing just fine, and then there is a post-assessment after those sections that is very similar to the diagnostic, and I do really well. So I am not sure if these lessons are just refreshing my memory and that is all I need, or if it seems easier-but time consuming just because there isn't a lot of info in each lesson and misleading me. I wanted to go and crank out MCQs but due to the diagnostic tests, I wouldn't do well… So I need to at least go through the lessons. I will see an estimated time of 20 minutes on a lesson and end up taking 45 minutes because I am writing all these notes, but I am scared to not write them and take the time because I feel I will only do well on the assessment since I went over it 5 minutes ago, for it to leave my memory the next day.

Am I just overthinking everything? Do you have any other plans of attack for this test, so I can see another perspective?

[Ryan]

My advice…quit your private job and go public. You're young, why are you starting in private???

You need 1 year public experience anyway for CPA. And nobody goes from private to public, it's always the other way. Will be a culture shock to your system going private to public.

[thetoddgreen]

I would love to… I even tried to. No one would take me with zero accounting experience and no CPA tests under my belt. I went a year trying to get accounting jobs and eventually had to move in order to find someone that would take me. I accepted the job in private because it really seemed my lack of experience was holding me back. I would probably get paid more in public as well. Ironically, I started looking for public jobs using Indeed and other sites, but it seemed like public firms don't really put job ads out that often, or when they do – they are looking for highly experienced. I am in that weird middle ground where I am no longer a new graduate but I am also not “Experienced”. I have had my current job since June/July.

In South Carolina, it can be 1 year in private if the CPA above you describes your job duties and deems you competent to work as a CPA, but they can also request work papers etc if they feel it may not be sufficient. I have been worried that my current job won't qualify unless I am lucky, which is why I started browsing for another job. The perk of my job, is that there is a good bit of downtime for me to study on-and-off during work sometimes too. I hear public is pretty steady work. I just figured I would need my CPA tests passed before a public firm wanted to take a shot with me… (just going by my experience of looking for a job).

Doesn't seem like there are too many public firms here, I know there are no Big 4 or well-known large firms. Should I be looking for a job and adjusting to a new environment while studying? Feels a bit overwhelming

[RyonT]

I'm in the same boat as you. I've been studying for about 7 days and I've gotten almost through Economics with CPA excel and one way I've found to save time is to either read, OR watch the videos. Then do the tests. Then figure out why you got certain answers wrong. Once I started doing one or the other, my study session for each section went down significantly.I haven't really bothered with the flashcards or T/F questions. To retain the info I've covered, I've been using the quizbuilder to quizz on the stuff I've covered. I usually do this before or after every study session. My exam isn't until 1/23 so I'm trying to get through the material as fast as possible so I can just hit mcqs and rewrite my notes. Good luck!

[RyonT]

It took me about a year after I graduated to get in to a firm. It was a small one, but it did the job. Through frustration, I went through the yellow pages and sent my resume to one firm in each letter of the alphabet. Finally when I reached “M”, I got an interview and job. The coming tax season could be a good time to start looking again.

[Jdn9201]

Welcome to the board, and congrats on starting your CPA journey! I echo Hasy – you have to figure out what is best for you. I learned many tips on this board, but as I proceeded through the process I figured out that some worked for me, and some didn't. And on career advice – not everyone has to do public either. I've been in industry for 10 years, and I've done pretty well for myself and have no regrets whatsoever. Check your state, but in most states your experience has to be signed off by someone who is an active CPA, can speak to the quality of your work, and that you have worked under or with for 1 year.

Regarding the actual exams – again, there's multiple ways to study and there's multiple orders to schedule the exams too. I used Roger, and I took my exams in order of perceived easiest to hardest – BEC/REG/AUD/FAR. My background is tax and I wanted to build momentum by passing the ‘easiest' first without having to suffer too much. I would say on MCQ's, quality is more important than quantity. You have to understand WHY and answer is right and why another is wrong. You have to also understand how the knowledge in one MCQ translates to another MCQ about a similar topic, because that is key to being able to answer MCQ's that make you think outside the box. I would also say do not focus on every minute detail. I used the Content Specific Outline as a guide as to how I would divide up my study time, and to what degree I'd study before moving on. Especially once you get to REG and FAR, there is SO much material that it is impossible for them to test you on every little thing. Make sure you spend time learning whatever the authoritative literature is for the section you are taking. In REG, AUD, and FAR there are points buried in the AL for SIMS but you have to be able to find the info to take advantage. And finally, once you are taking practice exams, make a time budget and stick to it so you have enough time for the SIMS. Good luck!

BEC - 88 8/29/15
REG - 82 11/14/15
AUD - 83 1/8/16
FAR - 80 2/29/16

[Missy]

If you really want to pass two in the first quarter I think taking Sundays off is a mistake. It's a drag to work 40 hours a week and study another 25 a week but I don't think it's realistic to knock two out so quickly while allowing downtime. I'd say it's possible and realistic if you go all in.

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[thetoddgreen]

jdn9201…

As for the MCQs… I agree, WHY is always the important factor. That's what I would always tell kids I would tutor in Math, Econ, Excel, etc. If you know the ‘why', then you don't need to memorize – it's knowledge + logic, and much easier to tackle. However, the way Wiley is set up, I am concerned that I think I know the why but I really don't. The MCQs seem very similar to the subject matter (sounds like it is pretty obvious it should be, right?) but in a way it feels SO fresh it's easy to answer. Again, this could just be that my mind needed to be refreshed, but then again… I could be mislead. Wiley Flashcards however are very wordy, and that is why I feel maybe I don't know the “why” but the questions are worded in a familiar fashion that I get them right. It is also why I started paying so much attention to detail, because in order for me to consistently nail flashcards, I have to know detail. I have tried just paraphrasing in my head and flipping the card, but I don't know if I saw it in an MCQ if I would get it right.

So on that note… any clever tricks you, or anyone else, have used to ensure yourself that you understand the way and you aren't just getting it right because you just did a lesson or are used to seeing that question? I want to have confidence, but right now I am scared that my grades are giving me a false confidence.

[Anonymous]

One thing to remember is that you will find that with each exam you will either study the same or you will tailor your studying as you go along. I am guilty of memorizing questions and answers. So, as I go through the questions I sit down and explain why each answer choice is either correct or wrong. If its a math problem then I pretend I am explaining the concept to someone else and work through the problem.

@Ryan I do not agree that no one ever goes from private to public. I started out in private and spent 5 years then made a switch to Big 4. Went back to Private and realized how much I missed the madness of being in public so I went back to a large regional firm. I also do not agree that you need one year of public accounting experience to be certified. I have plenty of friends that have worked in internal audit that never worked in public accounting that are CPAs.

[thetoddgreen]

@bevym Thanks. That is probably a great idea. Yeah, it's a little time consuming, but it will help drive home the concepts I think. I will probably keep doing as I am doing, but as I do larger assessments or use the quizzbuilder, I will take my time and explain them. If I can't explain it even if I know the answer, I will write it down and look into it to make sure it isn't something super simple so I make sure I understand it rather than memorizing. I didn't even think about doing that. Knowing that I will be doing that will help me cut down my overly detailed studying I am doing now and do what @ryonT said.

Do you think that is a good methodology to tackle? Rather than spending double time on each lesson, just go through the lessons more casually unless I truly am stuck. Then on larger assessments, I can explain them as I do them. If I can't, that gives me exactly the material I need to review more. At least this way, I will get exposed to everything – rather than overexposed to only part of it?

Obviously, I am a nervous wreck and I just started. Unfortunately, nervousness makes me procrastinate rather than try harder.

[DISLCPA]

I have to agree with everyone else, you have to find what works for you and unfortunately it may actually taking the test to see that. I am not one of the lucky ones who can pass on the first try, it normally takes me the first test to see what I need to focus one. I don't have time on my side, I am not as young as most of the peeps on here, plus I work in public accounting full-time, mother of two kids, and a younger needy husband. I am also the bread winner in the family so I am having to bring work home due to my client load so then I have to balance work and study time.

Take your time and see what works for you. Good luck.

BEC(8/12/16)
AUD
FAR
REG

[Anonymous]

I used to think I learned from the videos but after failing audit twice I realized that videos were not my thing. I do better reading. Some people learn by watching videos.

I go through the videos the first time around and I will make note in my textbook of what the instructor states as “must know” “memorize” or ‘heavily tested.” And then I start working on questions. As I do questions I will reference my textbook. For any chapters that just seem to not sink in I will read the Wiley textbook and then also utilize google to make sure I truly understand the concepts. I also copy and paste the answers to questions I get wrong in a word doc. If I keep getting a certain question or concept wrong I will highlight those answers in bold red. I also keep a notebook that I jot down fact nuggets. It can be either a memory aid from an instructor on something I struggle with or an area heavily tested. I keep that notebook with me at all times and review it as I go along.

Its very time consuming, however, I realized that was the only I was going to be successful at passing the exam.

I am like you. I overwhelm myself by overthinking my study strategy and then end up procrastinating.

[Author]

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